Cullinan Therapeutics (NASDAQ:CGEM) Insider Jennifer Michaelson Sells 4,000 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 4,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $12.30, for a total transaction of $49,200.00. Following the sale, the insider owned 128,635 shares of the company’s stock, valued at approximately $1,582,210.50. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Jennifer Michaelson also recently made the following trade(s):

• On Friday, December 19th, Jennifer Michaelson sold 1,345 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $10.01, for a total transaction of $13,463.45.
• On Thursday, December 18th, Jennifer Michaelson sold 2,898 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $9.67, for a total transaction of $28,023.66.
• On Monday, December 15th, Jennifer Michaelson sold 995 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $11.90, for a total transaction of $11,840.50.
• On Friday, December 12th, Jennifer Michaelson sold 2,148 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $12.38, for a total value of $26,592.24.
• On Monday, November 24th, Jennifer Michaelson sold 4,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $12.30, for a total value of $49,200.00.

Cullinan Therapeutics Trading Down 0.6%

Cullinan Therapeutics stock opened at $12.50 on Friday. Cullinan Therapeutics, Inc. has a 12 month low of $5.68 and a 12 month high of $13.33. The stock has a fifty day simple moving average of $10.71 and a two-hundred day simple moving average of $8.55. The firm has a market cap of $738.50 million, a price-to-earnings ratio of -3.78 and a beta of -0.09.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.18. On average, equities research analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Institutional Trading of Cullinan Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. boosted its stake in shares of Cullinan Therapeutics by 1,665.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 177,685 shares of the company’s stock worth $1,054,000 after acquiring an additional 167,623 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Cullinan Therapeutics in the 2nd quarter worth $84,000. Voss Capital LP raised its holdings in Cullinan Therapeutics by 43.8% in the 2nd quarter. Voss Capital LP now owns 251,717 shares of the company’s stock worth $1,895,000 after purchasing an additional 76,717 shares during the period. Franklin Resources Inc. lifted its position in Cullinan Therapeutics by 0.4% during the second quarter. Franklin Resources Inc. now owns 2,228,160 shares of the company’s stock valued at $16,778,000 after purchasing an additional 8,399 shares in the last quarter. Finally, Walleye Capital LLC grew its holdings in Cullinan Therapeutics by 60.0% during the second quarter. Walleye Capital LLC now owns 35,199 shares of the company’s stock valued at $265,000 after purchasing an additional 13,199 shares during the period. 86.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CGEM. Morgan Stanley reiterated an “overweight” rating and issued a $30.00 price target on shares of Cullinan Therapeutics in a research note on Thursday, January 8th. HC Wainwright raised their target price on shares of Cullinan Therapeutics from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cullinan Therapeutics in a research report on Monday, December 29th. BTIG Research increased their price target on Cullinan Therapeutics from $32.00 to $38.00 and gave the company a “buy” rating in a report on Monday, November 24th. Finally, Zacks Research upgraded Cullinan Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cullinan Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

About Cullinan Therapeutics

Cullinan Therapeutics, Inc, a biopharmaceutical company, focuses on developing oncology therapies for cancer patients in the United States. The company's lead program comprises CLN-619, a monoclonal antibody that is in Phase I clinical trial for the treatment of solid tumors. Its development portfolio also includes CLN-049, a humanized bispecific antibody that is in Phase I clinical trial for the treatment of acute myeloid leukemia or myelodysplastic syndrome; CLN-418, a human bispecific immune activator that is in Phase 1 clinical trial for the treatment of multiple solid tumors; and Zipalertinib, a bioavailable small-molecule for treating patients with non-small cell lung cancer.